SeSa S p A : Group Presentation - Italian Mid Cap Conference

Group Presentation

3rd Italian Mid Cap Conference - January 19, 2021

Alessandro Fabbroni - Chief Executive Officer

Conxi Palmero - Investor Relation Manager

Business model evolution and strategic achievements

Group Results and achievements H1 2021 and FY 2020

Market trend and long term sustainable growth

Group Structure and Business Sectors VAD, SSI, BS

Annexes Financial Statements

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Business Model evolution and Strategic Achievements

Organic growth embracing	• ∼ Eu 2 Bn consolidated revenues and ∼ Eu 120 Mn Ebitda in FY 2021E (ending April 30, 2021)
• Long-termgrowth: revenues CAGR 2011-21E +10.5%, Ebitda CAGR 2011-21E +13.7%, EAT Adj CAGR 2011-21E +17.1%
new digital trends
• Human capital as driver of organic growth: FY 2021E ∼ 3,300 employees, +1,658 over last 3Y
	• Italian IT1 market growth in 2021-23E(annual avg +5%) driven by digital enablers (cloud, security, analytics, A.I.)

Leading digital partner for SME and Enterprise

• Leading digital transformation of Italian SMEs and Enterprises
• Growing in SSI: CAGR 2015-20 - Revenues +15.8% EBITDA +31.7% - EBITDA margin ∼ 11%, 10,000 customers
• Launching Business Services as new group sector: revenues Eu 50 Mn, EBITDA margin ∼ 6%
• Improving Leadership in VAD: CAGR 2015-20 - Revenues +8.8% EBITDA 5.1% - EBITDA margin ∼ 4%, 13,000 BPs

M&A as acceleration driver	• ∼ 27 M&As since 2015 with ∼ Eu 340 million revenues and 1,580 people (15 M&As since Jan 2020)
of organic growth	•	Accretive margin (> 10% Ebitda margin) from M&A pipeline
	•	Low integration costs and long term commitment of key-people as new group partners

Sustainability and long term	• Long term commitment of key people involved in Group ownership through ITH SpA holding company
commitment of key people	•	Focus on sustainability and long term value generation for all stakeholders
	•	Digital transformation to drive sustainability for enterprises and organizations

(1) Source Sirmi November 2020

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Organic growth embracing new digital trends

Human capital development as strategic driver of

Group sustainable long-term growth

Digital Enabler of Italian economy

• Focus on main digital innovation trends: Cloud, Security, Analytics, A.I., Collaboration
• ∼ 75% of historical growth is organic and driven by human capital development

				4200
				3700
				3200
				2700
Recruitment Programs	Education Programs	Welfare Programs	Social Responsibility
Professional skills in main	Training and education	Corporate welfare	Commitment to	2200
digital transformation	programs to develop	programs aimed at	sustainable growth and
trends (cloud, security,	human capital skills and	increasing HR wellness	value generation
analytics, A.I.). Recruiting	habilitate innovation	and work-life balance,	towards all stakeholders	1700
programs with 200 new	technology (20,017	supported by non-profit	(human capital,
qualified employees in	hours in FY2020 vs	foundation "Fondazione	environment and social
FY2020 (250 in FY 2021E).	18,089 in FY2019,	Sesa". Reinforcement of	communities)	1200
99% of people under	22,300 in FY2021E)	welfare activities after
permanent employment		Covid-19
				700

HR CAGR 2011-21E +15.0% +2,150 people since 2015 o/w ∼ 1,465 from M&A

				1,060
				948
		812	832
	747
665			1,150
		912	974
		863
	818
777

2100

					2,023
				1,776	1900
				3,300
					1700
	1,551	2,547
					1500
	1,363
1,230	1,271				1300
	1,900
					1100
	1,642
	1,427				900
1,215
					700
							500

2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021E
	Revenues Eu Mn				Human Capital Nr. (99% with permanent employment)

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